Crypto Market Update: A Bull Run in Action

The crypto market today is experiencing a significant upswing, with Bitcoin regaining its $1 trillion market cap. The market’s bullish trend is driven by several factors, including high staking interest in Ethereum, with 25% of the circulating supply locked up, and massive inflows into BlackRock’s Bitcoin ETF.

The crypto market’s rise today, February 17, 2024, can be attributed to the strong recovery observed in 2023, following a slight downside due to global macroeconomic situations and inflation data. The launch of 11 spot bitcoin exchange-traded funds approved by the U.S. Securities and Exchange Commission in January has also contributed to the bullish sentiment.

Recent news affecting the current state of the crypto market includes predictions of Bitcoin reaching $55,400 soon, although some warn against the end of the “euphoria”. Ethereum trades near $3,000, but historical data suggests some red flags for its price.

Bitcoin Price Today

As of today, the price of Bitcoin is $51,050. This represents a 0.1% increase from an hour ago and a 0.4% decline since yesterday. The value of Bitcoin today is 9.9% higher compared to its value 7 days ago.

The global cryptocurrency market cap today is $1.87 trillion, a 3.41% change in the last 24 hours and a 75.54% change one year ago. As of today, the market cap of Bitcoin (BTC) is at $927 billion, representing a Bitcoin dominance of 49.68%.

Top 3 Crypto Gainers and Losers

Here are today’s top 3 crypto gainers and losers among the top 100 market-cap coins from Coingecko:

Top 3 Gainers	Top 3 Losers
White Rhinoceros	ZMINE
Huobi BTC	Guacamole
Gamer Arena	Battle World

Please note that the crypto market is highly volatile, and prices can fluctuate rapidly. Therefore, it’s crucial to stay updated with the latest market movements and conduct thorough research before making any investment decisions.